United kingdom debt

The economic history of the United Kingdom deals with the economic history of England and Great Britain from 1500 to the early 21st century. (For earlier periods see Economy of England in the Middle Ages and Economic history of Scotland).[1] After becoming one of the most prosperous economic regions in Europe between 1600 and 1700,[2] Britain led the industrial revolution and dominated the European and world economy during the 19th century. It was the major innovator in machinery such as steam engines (for pumps, factories, railway locomotives and steamships), textile equipment, and tool-making. It invented the railway system and built much of the equipment used by other nations. As well it was a leader in international and domestic banking, entrepreneurship, and trade. It built a global British Empire. After 1840, it abandoned mercantilism and practised "free trade," with no tariffs or quotas or restrictions. The powerful Royal Navy protected its global holdings, while its legal … [Read more...] about Economic history of the United Kingdom

The diplomatic foreign relations of the United Kingdom are conducted by the Foreign and Commonwealth Office, headed by the Secretary of State for Foreign and Commonwealth Affairs. The Prime Minister and numerous other agencies play a role in setting policy, and many institutions and businesses have a voice and a role. Britain was the world's foremost power during the 18th, 19th and early 20th centuries, most notably during the so-called "Pax Britannica"—a period of totally unrivaled supremacy and unprecedented international peace during the mid-to-late 1800s. The country continued to be widely considered a 'superpower' until the Suez crisis of 1956, and this embarrassing incident coupled with the loss of the empire left the UK's dominant role in global affairs to be gradually diminished. Nevertheless, the United Kingdom remains a great power and a permanent member of the United Nations Security Council, a founding member of the G7, G8, G20, NATO, OECD, WTO, Council of Europe, … [Read more...] about Foreign relations of the United Kingdom

Army Cadets from across Northamptonshire took part in a battlefield tour in France to learn more about the First World War. The youngsters, who are part of Leicestershire, Northamptonshire and Rutland Army Cadet Force, were on a three-day trip to the Somme part of a national campaign to mark 100 years since the Armistice that gave the cadets an insight into what life was like for soldiers in the trenches. During the tour cadets visited battlefields and re-created trench systems to learn more about the conditions faced by soldiers, were given talks by historians about how the war developed, the technology used and the impact it had upon the 20th Century.The tour then culminated in a parade at the Thiepval Memorial to the missing. Cadet Gabriel Robertson, 14, said: "It made me feel a great debt of gratitude to those that died and also proud to stand before the memorial in remembrance after 100 years since the end of the Great War."Cadet Antony Eames, aged 16, added: "It made me feel … [Read more...] about ‘It made me feel a great debt of gratitude’: Northamptonshire Army Cadets visit Somme battlefields

A Kent MP claims an energy company has "conducted a campaign of telephone intimidation through debt collectors" for money he does not owe.Tom Tugendhat signed up to Economy Energy after finding a deal through an online switching site but cancelled his contract about a year ago.He says they got his final bill wrong and, despite assurances the issue had been resolved, the company has now hired another firm to reclaim cash.Scroll down for audio Mr Tugendhat, who represents Tonbridge and Malling, says they have been calling almost every day for the past two months and he felt compelled to speak out: "What I'm very concerned by is that this is a company that trades a lot in the United Kingdom and if they're willing to do it to me who else are they doing it to?"How many vulnerable people in our community are being harassed by companies like Economy Energy for debts they don't owe?"According to industry regulator Ofgem, the company was the third worst among small suppliers for the number of … [Read more...] about MP chased by debt collectors

The 10-year anniversary of the Lehman Brothers bankruptcy has been met with a lot of reflection about how things have changed since the dark days of 2008. Craigs Investment Partners head of private wealth research Mark Lister said while progress had been made, the elephant in the room was the fact debt levels across the world were higher than they were in 2008. "That hasn't been an issue in recent years, as borrowing costs have fallen to record lows, economic growth has been steady and things have been generally stable." However, the debt burden could still leave the global financial world in a precarious position when the winds inevitably changed, he said. In 2008, the United States housing market was central to many of the problems, along with low quality lending and bankers who packaged those loans together to mask their true risks. While things had changed, the underlying problem remained. The US had come out the other side in good shape, the housing market was not overheated and … [Read more...] about World’s debt burden higher than 2008; concerns mount